Robbins LLP Is Investigating the Officers and Directors of Och-Ziff Capital Management Group LLC on Behalf of Shareholders
Robbins LLP is investigating whether certain officers and directors of the investment management company, Och-Ziff Capital Management Group LLC (NYSE: OZM), breached their fiduciary duties to shareholders.
View the investigation on the law firm’s Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/och-ziff
Och-Ziff Investigated for Possible Violations of the Foreign Corrupt Practices Act
On March 18, 2014, Och-Ziff disclosed that in 2011 the company began receiving subpoenas from the U.S. Securities and Exchange Commission and the U.S. Department of Justice as part of an investigation into possible violations of U.S. bribery laws. According to the disclosure, the investigation relates to a 2007 investment made by a foreign sovereign wealth fund in an Och-Ziff fund, in violation of the Foreign Corrupt Practices Act. In addition, the subpoenas sought information concerning investments by certain Och-Ziff funds in several companies in Africa. Och-Ziff acknowledged that the investigation is ongoing and that an “adverse outcome could have a material effect” on its business operations and financial condition. Och-Ziff shares fell 3.5% on March 19, 2014.
In light of this news, Robbins LLP is investigating whether Och-Ziff’s board of directors breached its fiduciary duties to the company and its shareholders by failing to implement adequate internal controls to ensure compliance with applicable law.
Och-Ziff Shareholders Have Legal Options
Robbins LLP highlights that Och-Ziff shareholders have the option to pursue a shareholder litigation demand or shareholder derivative action through which shareholders aim to hold insider wrongdoers accountable for their actions, prevent future misconduct, and bring long-term value back to the company.
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.